A prop firm requires Series 7 license and

Discussion in 'Prop Firms' started by 4DTrader, Feb 10, 2008.

  1. directed me to websites selling exam materials. Those websites sell stuff at a price between $200 and $300, usually under the title of "premier set" or "deluxe set." From the high price, I got an impression that Series 7 exam must be very big and difficult. It got me worried for a while. Then I checked Amazon.com and found Series 7 for Dummies for under $15, also Barron's book at a cheaper price, a little over $11.

    It suddenly dawns on me that I was deceived by the prop firm who recommended those book-selling companies. And it further dawns on me that this field of securities is full of crooks. Then I suddenly realize that there is a link between "premier set" and "enhanced high-grade fund": the usage of glittering generalities in packaging the garbage they are selling in this field.

    Then I think again and decide that I may be wrong in my inference. I should give them the benefit of doubt. The prop firm may genuinely think the "premier set" is worth $250. They may not be aware of those books sold under $15 on Amazon.com. If that is the case, they are not crooked/dishonest/deceiving, they are simply ignorant/stupid/intellectually challenged.

    After reaching the latter conclusion, another discovery comes to my mind: 95% of the people in this field fail because most of them are simply stupid.

    Am I right? I may be wrong. Since I want to join the field, I could be as stupid as them. Oh, boy, what a miserable field: 95% fail??!!
  2. so did you pass the series 7 with the for dummies book? :D
  3. Not yet, I haven't read any book yet. First I need to locate a prop firm with low commission rate, to be a sponsor.

    I have been making money for Scottrade and I am tired of it. With low commission rate, I can increase my volume and execute my plan. The high commission rate of Scottrade paralyzes my trading.

    Any suggestion about firms with low commission rate is welcome and appreciated. From what I read here, Title has low rate but doesn't do remote.